Dividends on way back up: Argo

Original article by Cliona O’Dowd
The Australian – Page: 17 : 9-Feb-21

Argo Investments has posted a 2020-21 interim profit of 67m, which is 43 per cent lower than previously. The listed investment company’s half-year result was impacted by lower dividend income, with many companies scaling back their payouts in response to the COVID-pandemic. Argo MD Jason Beddow expects many companies to announce an increase in their dividend payouts during the February reporting season. However, he doubts that dividends will return to pre-coronavirus levels. He says banks and retailers are among the companies that could significantly boost their dividend payouts for the second half.

CORPORATES
ARGO INVESTMENTS LIMITED – ASX ARG

Investors ready to turn savage

Original article by Melissa Yeo
The Australian – Page: 21 : 15-Jan-20

The sharemarket rally has seen the S&P/ASX 200’s price-to-earnings multiple rise to a record high of 18 times. Mirrabooka Investments’ MD Mark Freeman says high valuations means that stocks which fail to meet expectations in the February reporting season will be punished by investors. Meanwhile, Mirrabooka has reported a 2019-20 interim profit of $4.4m, compared with $4.6m previously. Shareholders will receive a first-half dividend of $0.35 per share.

CORPORATES
MIRRABOOKA INVESTMENTS LIMITED – ASX MIR, STANDARD AND POOR’S ASX 200 INDEX

AFIC left behind on rising resources

Original article by Michael Roddan
The Australian – Page: 18 : 23-Jan-18

The Australian Foundation Investment Company has posted a 2017-18 interim profit of $A136.4m, which is 15.6 per higher than previously. Its investment portfolio achieved a return of 6.9 per cent for the half-year, while the benchmark S&P/ASX 200 gained 8.4 per cent. AFIC failed to benefit from a rally in small and mid-cap resources stocks, as its focus in the sector is on large-cap stocks. AFIC CEO Mark Freeman notes that elevated share price means it is hard to find stocks that are fairly valued at present.

CORPORATES
AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTPAC BANKING CORPORATION – ASX WBC, WESFARMERS LIMITED – ASX WES, TREASURY WINE ESTATES LIMITED – ASX TWE, TRANSURBAN GROUP LIMITED – ASX TCL, MACQUARIE GROUP LIMITED – ASX MQG, WESTFIELD CORPORATION – ASX WFD, CSL LIMITED – ASX CSL, INCITEC PIVOT LIMITED – ASX IPL, COCA-COLA AMATIL LIMITED – ASX CCL, QBE INSURANCE GROUP LIMITED – ASX QBE

Goode blasts ‘unfair’ tax on big five banks

Original article by Eli Greenblat
The Australian – Page: 20 : 17-Oct-17

Diversified United Investments (DUI) chairman Charles Goode says the Federal Government must reconsider its proposed levy on the four major banks and Macquarie Group. He has told the listed investment company’s shareholders that the banks already pay billions of dollars in income tax, and targeting only some companies in a specific sector is unfair and discriminatory. DUI holds $A240m worth of shares in the major banks, while Australian United Investments – which is also chaired by Goode – has a $A315m exposure to the big banks.

CORPORATES
DIVERSIFIED UNITED INVESTMENT LIMITED – ASX DUI, AUSTRALIAN UNITED INVESTMENT COMPANY LIMITED – ASX AUI, MACQUARIE GROUP LIMITED – ASX MQG, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WOODSIDE PETROLEUM LIMITED – ASX WPL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, IAN POTTER FOUNDATION, FLAGSTAFF PARTNERS PTY LTD, WALLARA ASSET MANAGEMENT, RIVER CAPITAL PTY LTD, SG HISCOCK AND COMPANY LIMITED, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI

Wilson tips difficult six months for stocks

Original article by Vanessa Desloires
The Australian Financial Review – Page: 28 : 31-May-16

The WAM Leaders fund debuted on the Australian sharemarket on 30 May 2016, after raising $A394.3m via an IPO. The listed investment company will invest in S&P/ASX 200 stocks, with a focus on growth-oriented large-capitalisation stocks that are undervalued. Veteran fund manager Geoff Wilson says the fund will not invest in the top-20 stocks at present, as they have performed poorly for investors over the last 12 months. He expects market conditions to be challenging for the next six months.

CORPORATES
WAM LEADERS LIMITED – ASX WLE, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, WOOLWORTHS LIMITED – ASX WOW, WESFARMERS LIMITED – ASX WES, RIO TINTO LIMITED – ASX RIO, WAM CAPITAL LIMITED – ASX WAM, ARISTOCRAT LEISURE LIMITED – ASX ALL, TPG TELECOM LIMITED – ASX TPM, VOCUS COMMUNICATIONS LIMITED – ASX VOC, MAGELLAN GLOBAL EQUITIES FUND (MANAGED FUND) – ASX MGE

AFIC hunts for quality mid-cap investments

Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 21-Jan-16

The Australian Foundation Investment Company has posted a 2015-16 interim profit of $A145.5m, which is 10.3 per cent higher than previously. The listed investment company’s revenue was 7.2 per cent higher at $A156.6m, although its investment portfolio generated a loss of 1.3 per cent for the half-year. The group has reduced its exposure to large banks and retailers, and increased its holdings of stocks such as Qube Holdings, Suncorp Group and Treasury Wine Estates.

CORPORATES
AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, QUBE HOLDINGS LIMITED – ASX QUB, SUNCORP GROUP LIMITED – ASX SUN, TREASURY WINE ESTATES LIMITED – ASX TWE, HEALTHSCOPE LIMITED – ASX HSO, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, CHALLENGER LIMITED – ASX CGF, MACQUARIE GROUP LIMITED – ASX MQG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MAINFREIGHT LIMITED, INTEGRAL DIAGNOSTICS LIMITED – ASX IDX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, OIL SEARCH LIMITED – ASX OSH, SANTOS LIMITED – ASX STO, STANDARD AND POOR’S ASX 200 ACCUMULATION INDEX, UNITED STATES. FEDERAL RESERVE BOARD

Mirrabooka forks out 7c a share special dividend

Original article by Ruth Liew
The Australian Financial Review – Page: 15 : 14-Jul-15

Mirrabooka Investments has reported a 2014-15 profit of $A7.1m, compared with $A7.8m previously. The listed investment company has posted a return of 6.8 per cent for the financial year, and a five-year return of 15.5 per cent. Stocks in its portfolio that performed well in 2014-15 include Toll Holdings, Ansell, Nufarm and Blackmores. Shareholders will receive a final dividend of $A0.065 per share, plus a special dividend of $A0.07 per share.

CORPORATES
MIRRABOOKA INVESTMENTS LIMITED – ASX MIR, TOLL HOLDINGS LIMITED, ANSELL LIMITED – ASX ANN, NUFARM LIMITED – ASX NUF, BLACKMORES LIMITED – ASX BKL, LIFESTYLE COMMUNITIES LIMITED – ASX LIC, COVER-MORE GROUP LIMITED – ASX CVO, ISELECT LIMITED – ASX ISU, VEDA GROUP LIMITED – ASX VED, AMA GROUP LIMITED – ASX AMA, SIMS METAL MANAGEMENT LIMITED – ASX SGM, JAPAN POST COMPANY LIMITED, CITADEL GROUP, STANDARD AND POOR’S ASX MIDCAP 50 INDEX, STANDARD AND POOR’S ASX SMALL ORDINARIES GROSS ACCUMULATION INDEX

Argo tips strong year for yield stocks given global volatility

Original article by Ruth Liew
The Australian Financial Review – Page: 15 : 3-Feb-15

Argo Investments has reported a 2014-15 interim profit of $A104.8m, which is three per cent higher than previously. The group achieved a return of 4.5 per cent for the half-year, while it will pay an interim dividend of $A0.14 per share. CEO Jason Beddow expects Australian investors to focus on stocks that offer solid yields in 2015, citing factors such as low interest rates and a high level of market volatility

CORPORATES
ARGO INVESTMENTS LIMITED – ASX ARG, STANDARD AND POOR’S ASX 200 INDEX, SUNCORP GROUP LIMITED – ASX SUN, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, WESFARMERS LIMITED – ASX WES, MEDIBANK PRIVATE LIMITED – ASX MPL, APA GROUP – ASX APA, SANTOS LIMITED – ASX STO, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ASALEO CARE LIMITED – ASX AHY, TELSTRA CORPORATION LIMITED – ASX TLS, MILTON CORPORATION LIMITED – ASX MLT, NEWS CORPORATION – ASX NWS

Hedge funds chase self-managed super billions

Original article by Jonathan Shapiro, Gretchen Friemann
The Australian Financial Review – Page: 1 & 12 : 10-Sep-14

There is growing interest in listed investment companies (LICs) in Australia, and hedge funds believe that these investment vehicles may allow them to attract capital from self-managed superannuation funds. Ellerston Capital and Global Wealth Partners are among the hedge funds that have launched investment vehicles that are modelled on LICs. It is estimated that SMSFs now hold some $A550bn

CORPORATES
ELLERSTON CAPITAL PTY LTD, GLOBAL WEALTH PARTNERS FUND LIMITED – ASX GWP, WHITEHAVEN FUNDS, ZG ADVISORS PTY LTD, BLUE SKY CAPITAL INVESTMENTS LIMITED, PERSHING SQUARE CAPITAL MANAGEMENT LP, RF CAPITAL PTY LTD

Soul Patts chief blasts attacks on company’s board

Original article by Andrew White
The Australian – Page: 21 : 22-Jul-14

The Australian Taxation Office has issued a private ruling that states a capital gains tax charge of $A311m would be created by an unwinding of the cross-shareholdings of Brickworks and Washington H Soul Pattinson. Brickworks has 42.7% of Soul Patts and the listed investment company 44.3% of the building materials group. Soul Patts chair Robert Millner has criticised fund management firm Perpetual and activist shareholder Mark Carnegie for pursuing the split plan, noting that it has caused costs of several millions of dollars

CORPORATES
WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, BRICKWORKS LIMITED – ASX BKW, PERPETUAL LIMITED – ASX PPT, TPG TELECOM LIMITED – ASX TPM, NEW HOPE CORPORATION LIMITED – ASX NHC, BKI INVESTMENT COMPANY LIMITED – ASX BKI, MILTON CORPORATION LIMITED – ASX MLT, AMP LIMITED – ASX AMP, QBE INSURANCE GROUP LIMITED – ASX QBE, BRAMBLES LIMITED – ASX BXB, TRANSURBAN GROUP LIMITED – ASX TCL, MH CARNEGIE AND COMPANY PTY LTD, AUSTRALIAN TAXATION OFFICE